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SEC Files Court Order To Learn How Telegram Spent $1.7 Billion Raised In ICO

Ramsey Baker

Summary: The United States Securities and Exchange Commission (SEC) filed a court order Jan. 2 to force Telegram, the messaging platform, into releasing the specifics on how they spent their funds raised in its initial coin offering (ICO). SEC is asserting that the records they’re asking for are highly relevant to their current case against Telegram, ...

The United States Securities and Exchange Commission (SEC) filed a court order Jan. 2 to force Telegram, the messaging platform, into releasing the specifics on how they spent their funds raised in its initial coin offering (ICO).

SEC is asserting that the records they’re asking for are highly relevant to their current case against Telegram, claiming that the $1.7 billion raised selling Gram tokens was an unregistered securities sale.

In the filing the SEC stated that Telegram is "refusing to disclose the bank records concerning how they have spent the $1.7 billion."

By Ramsey Baker

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Link: SEC Files Court Order To Learn How Telegram Spent $1.7 Billion Raised In ICO   [Copy]
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